CIT v. Shri Ram Pistons and Rings Ltd. (2008) 220 CTR 404, CIT v. Triveni Engineering and Industries Ltd.

336 ITR 374High Court2011#2787 most cited

What is CIT v. Shri Ram Pistons and Rings Ltd. (2008) 220 CTR 404, CIT v. Triveni Engineering and Industries Ltd. authority for?

No penalty can be imposed when there is no loss of revenue, and the only issue concerns the year of taxability of income.

42

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

CIT v. Shri Ram Pistons and Rings Ltd. · CIT v. Triveni Engineering and Industries Ltd. · penalty · year of taxability · no loss of revenue · section 143(3) · section 153A · section 153C · section 132(4) · section 132(4A)

Sections most often in play

Section 143(3)Section 127Section 132(4)Section 132(4A)Section 143(2)Section 153ASection 153CSection 2(24)(x)

Issues it is cited on

section 36(i)(va)true and full disclosuresection 153(a)retraction of statementcorporate guaranteesection 145(2)statement under section 132(4)retracted statementwritten down valuepercentage completion methodput to usesection 132(4a)

Judgments citing CIT v. Shri Ram Pistons and Rings Ltd. (2008) 220 CTR 404, CIT v. Triveni Engineering and Industries Ltd.

ACIT, Chennai vs. V.S.L.India Private Limited, Chennai

In the result, the appeal of the Department in ITA

ITA 1701/CHNY/2013[2006-07]Status: DisposedITAT Chennai01 Feb 2016AY 2006-07

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. V. Vivekanandan, CIT. DRFor Respondent: Shri. R. Vijayaraghavan, Advocate
Section 143(1)Section 143(2)Section 143(3)Section 195Section 40

…tive has substantiated his arguments with the submission on disallowance by giving details of working of the project of the company alongwith work status and also foreseeable losses and relied on the decisions of CIT vs. Triveni Engineering Industries Ltd.: 336 ITR 374 and CIT vs Bilahari Investments P. Ltd. [2008] 299 ITR 1 (SC). 8.6 We have heard the rival submissions of both the parties and perused the material on record and also judicial decisions cited. The assessee has claimed foreseeable loss of "18,49,199/- based on Accounting Standard 7 applicable to construction contracts and evaluated projects a…

M/S the Mysore Electrical Industries Ltd., Bangalore vs. CIT, Bangalore

In the result, the appeal filed by the assessee is partly allowed

ITA 565/BANG/2014[2007-08]Status: DisposedITAT Bangalore08 Jan 2016AY 2007-08

Bench: Shri N.V.Vasudevan & Shri Inturi Rama Rao

For Appellant: Shri Gurunathan, AdvocateFor Respondent: Mrs Neera Malhotra, CIT
Section 143(3)Section 147Section 148Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘B, BANGALORE BEFORE SHRI N.V.VASUDEVAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ITA No.565(Bang.)/2014 (Assessment year : 2007-08) The Mysore Electrical Industries Ltd. PB No.2221, Tumkur Road, Bangalore Appellant Vs The Commissioner of Income-tax, Bangalore-III, Bangalore Respondent Assessee by : Shri Gurunathan, Advocate Revenue by : Mrs Neera Malhotra, CIT Date of hearing : 30-12-2015 Date of pronouncement : 08-01-2016 O R D E R PER SHRI INTURI RAMA RAO, AM This appeal is filed by the assessee company directed against the order…